Dec 14 Punch Taverns Plc, Britain's
second largest pub operator by number of pubs, said on Wednesday
that it received two takeover approaches, including one from
Punch Tavern said it received a proposal from Patron Capital
Advisers on behalf of Heineken for 174 pence per share. It also
received an approach from Emerald Investment Partners Limited
about a 185 pence per share offer for the company.
According to Reuters calculation, Heineken's offer values
Punch's share equity at 386 million pounds ($488.83 million),
and Emerald's offer values it at 410 million pounds.
Shares in Punch were up 36 percent at 175 pence at 1212 GMT
on the London Stock Exchange.
($1 = 0.7896 pounds)
(Reporting by Rahul B in Bengaluru; Editing by Adrian Croft)